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  • operation Council (GCC), consisting of Saudi Arabia, Kuwait, Qatar, Bahrain, Oman and UAE. All except Oman are members of OPEC. All are what are known as banker nations within OPEC. Iran, Indonesia, Venezuela, Iraq, Algeria and Nigeria are considered the industrializing nations of OPEC. The formation of the GCC drew immediate criticism from Libya, Syria, Iraq and the PLO who said the agreement div
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